Iron ore futures, derivatives volumes hit new high in September

Oct 10, 2014 20:52

Source:SMM

Iron ore futures and derivatives volumes surged again in September to a new high, amid a sharp plunge in spot prices, said The Steel Index.

UNITED KINGDOM October 10 2014 5:15 PM

LONDON (Scrap Register): Iron ore futures and derivatives volumes surged again in September to a new high, amid a sharp plunge in spot prices, said The Steel Index.

This followed two months of more subdued trading of swaps, options and futures during the summer months, when range-bound prices limited price risk and trading opportunities.

In total, over 62 million tonnes of futures and derivatives were cleared across exchanges outside China in September, of which options made up 15.6 million tonnes and futures 25 million tonnes. The rest comprised swaps.

As well as being an overall record, September marked the highest-ever volume for options, and also $-denominated futures, which for the first time eclipsed swaps in volume.

A daily record was set early on in the month, when nearly 6 million tonnes of swaps, options and futures combined went through The Singapore Exchange (SGX) on a single day (September 4).

iron ore

The Steel Index

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Iron ore futures, derivatives volumes hit new high in September

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